Thursday, November 10, 2011

Jonathan Moves against Contract Inflation

This Day
10 November 2011

President Goodluck Jonathan Wednesday directed that a template for public sector projects valuation be set up to drive down the cost of contracts in the country which he said was higher than what obtains in other parts of the world.

He directed the Economic Management Team headed by Minister of Finance, Dr. Ngozi Okonjo-Iweala, to liaise with other stakeholders in the country to draw up the template so that Nigerians could get good value for the money spent on such projects.

Briefing journalists after the meeting of the Federal Executive Council (FEC) yesterday, Minister of Information, Mr. Labaran Maku, said Jonathan, who presided over the meeting, insisted that he did not want any of the projects initiated under his administration to be abandoned as such not only traps money belonging to the country but also denies them the use and benefit of such projects.

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